H-P shares are up 6.5% at $18.20, after the company reported fiscal-first quarter earnings were 82 cents a share on an adjusted basis, down from 92 cents a year ago, but well ahead of Street consensus of 71 cents. Sales fell to $28.36 billion from $30.04 billion a year ago, but were also above Street consensus of $27.89 billion.

H-P itself had pegged its first-quarter EPS at 68-71 cents a share.

For the second-quarter, the company projected adjusted EPS of 80-82 cents a share; Street consensus was 77 cents.